Telenor still on track to open Indian unit by March

Telenor still on track to open Indian unit by March
Comment E-mail Print Share
First Published: Tue, Sep 15 2009. 09 21 PM IST
Updated: Tue, Sep 15 2009. 09 21 PM IST
Helsinki: Nordic phone company Telenor ASA is still on track to open its Indian business in the fourth quarter, chief executive officer Jon Fredrik Baksaas said.
The company is awaiting final approval from the Indian government on increasing its stake in Unitech Wireless, which is not yet operational, to a majority from 49%, Baksaas said.
A go-ahead from India would allow Telenor to spend Rs3,740 crore to raise its stake in Unitech Wireless, a division of Unitech Ltd, to 67.25% with the option to increase to 74%.
Comment E-mail Print Share
First Published: Tue, Sep 15 2009. 09 21 PM IST
More Topics: Telenor | Telecom | Unitech wireless | India | Norway |